Maybe you did not notice but instead of using the words phrase “home buyer” I chose real estate buyer. Things have really changed over the last few years and going forward there will be more renters and fewer buyers.
This year and last year I have worked with some life long renters who became buyers. They did so because rents went us but home prices went down. These people are saving money each month and are very happy with their choice to own.
Recently I have encountered a new kind of buyer. People who are buying homes that their parents or children can rent from them. One buyer wants a fixer-upper for family members to fix up and live in. He is not planning on charging them rent.
It is possible to buy a home that is ready to live in for less than $100K and with today’s super low interest rates payments can end up being much lower than the average rental rate for the same size home in the same neighborhood.
Many people are afraid to buy real estate. For those who have a sense of adventure and a little cash now may be the best time to take advantage of what some are calling “soaring affordability” and low interest rates.
